Strata office space set for stronger sales in 2017

January 18, 2017 11:33 pm

A combination of low interest rates, strong demand and willing builders could make 2017 the year of strata office space in downtown Vancouver.

“There’s no indication that the feds are going to raise the interest rate, so … I think we’re going to continue to see strong demand both from the owner-user side and the investor side in commercial product,” said Glenn Gardner, a principal with Avison Young in Vancouver.

Avison Young is bringing approximately 46,000 square feet of strata office and retail space to market in the mixed-use tower Bosa Properties Inc. and Arpeg Holdings Ltd. are building at 1575 West Georgia Street. The 26-storey tower will have 175 condos with offices on the second to fifth floors and retail at grade.